ApeCoin (APE) is 18.3× the size of Heroes of Mavia (MAVIA) by market capitalisation. Over the past 1 year, APE is ahead by 9.9 percentage points (MAVIA -79.8% against APE -69.8%). Their daily returns move barely together (correlation 0.28 across 373 shared trading days). MAVIA has been the more volatile of the two, at 177% annualised against APE's 117%.
MAVIAAPE
0.28over 373 shared trading days
Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.
| Metric | MAVIA | APE |
|---|---|---|
| Max drawdown (400d) | -90.6% | -85.7% |
| Risk-adjusted return (90d) | -0.17 | -0.24 |
| Best 30 days (past year) | +50.3% | +113.9% |
| Worst 30 days (past year) | -76.3% | -47.6% |
Relative strength over 90 days: MAVIA outperformed APE by 24.0% — measured on the MAVIA/APE ratio, so it holds regardless of market direction.